Behavioral Health Real Estate
The Only Real Estate Advisory Firm Built Exclusively for Behavioral Health.
Real estate and M&A advice for operators, investors, and private equity sponsors, with zoning, operating use, and long-term value considered from the start.
The Short Version
One sector. Six ways to work with us.
Behavioral Health Properties is a real estate and M&A advisory firm built exclusively for behavioral health. We help operators, investors, and private equity sponsors make property and transaction decisions with zoning, operating use, and long-term value considered together.
Why BHP?
Property strategy should begin with the operator.
A behavioral health property decision is never just a property decision. BHP brings the operating use, zoning path, transaction structure, and long-term growth plan into the same conversation.
How we approach the work
Built for Behavioral Health
The real estate is part of the operating model.
Licensing dependencies, Certificate of Need requirements, reimbursement, and zoning can determine whether a property works before price ever enters the conversation. BHP keeps those issues in the room from the first call.
- 01Zoning confirmed at BHP’s expense
- 02One sector, not a generalist practice
- 03A direct answer when a deal does not fit
What We Do
Six Ways To Work With BHP
Sale-Leaseback Advisory
Convert owned real estate into growth capital without disrupting operations or putting your license at risk.
Explore Sale-LeasebackBuy-Side Acquisition Advisory
Grow through acquisition, with off-market access and zoning confirmed before you commit.
Explore AcquisitionsSell-Side M&A Advisory
A confidential, controlled process for operators planning an exit.
Explore Sell-SideDe Novo & Site Selection
Find a location that actually works for behavioral health before you sign a lease.
Explore De NovoBehavioral Health NNN Investment
Off-market net-lease opportunities with tenant-credit underwriting a generalist broker can't do.
Join the Investor NetworkPrivate Equity Real Estate Advisory
Pre-close diligence and post-close sale-leaseback execution for platform sponsors.
Explore PE Advisory
Not sure which one fits? Tell Us What You’re Trying to Do →
Why BHP
Why Sector Exclusivity Is the Whole Point
Zoning Confirmed at BHP's Expense.
On every transaction, BHP confirms zoning and the levels of care a site will actually support through its retained land use and zoning attorneys , at BHP's own cost. Zoning is one of the most common reasons a behavioral health deal falls apart late. BHP resolves it up front instead of letting it surface in diligence.
We Flag What We Don't Determine.
BHP draws on deep sector familiarity to flag Certificate of Need and licensing considerations early. We don't render regulatory determinations , those are nuanced, operator-specific, and part of your own diligence with counsel , but knowing where to look early saves months and prevents dead deals.
We'll Tell You When It's Not the Right Move.
Not every facility should sell right now. Not every building works for behavioral health. Not every operator is ready for a sale-leaseback. BHP says so directly, on the first call, instead of pushing a deal that doesn’t fit.
Our Ethos
A clear answer, even when the answer is no.
BHP is built to give operators, investors, and sponsors the context they need before momentum takes over.
Read our ethosFacility Types
Who We Work With
Detoxification facilities , medically managed and social model
Residential SUD treatment programs , 28-day, long-term, and extended care
Full-continuum platforms , detox through PHP, IOP, and outpatient
Residential mental health programs
Dual diagnosis and co-occurring disorder facilities
Acute psychiatric, eating disorder, and TBI programs (select experience)
A Focused Team for a Specialized Market.
BHP brings behavioral health real estate and transaction experience to every engagement. The people you meet are the people working alongside you.
Michael Cabot
Founding Partner & Broker of Record
Joshua Slaybaugh
Founding Partner
Luke Wollet
Managing Director
Questions We Get
Frequently Asked Questions
What does Behavioral Health Properties do?
BHP is a real estate and M&A advisory firm working exclusively with behavioral health operators, investors, and private equity sponsors , across sale-leasebacks, acquisitions, sell-side M&A, de novo site selection, NNN investment, and PE real estate diligence.
Does BHP only work with treatment centers, or also investors and PE sponsors?
Both. BHP advises operators directly on acquisitions, exits, and capital strategy, and separately serves investors and private equity sponsors on the real estate side of behavioral health transactions.
What areas does BHP serve?
BHP works nationally across the United States.
How is BHP different from a generalist commercial real estate broker?
Generalist brokers don't understand licensing dependencies, Certificate of Need requirements, or the zoning constraints specific to behavioral health use. BHP works in this sector exclusively, confirms zoning at its own expense on every deal, and brings buyers and investors who already understand the asset class , no education process required.
The Property Matters
The right property should support the care delivered inside it.
Discuss a propertyDiscuss a Property
Start a Confidential Conversation.
Tell us what you are considering. BHP will route the conversation to the right service and give you a direct answer.
Let's Talk
Not Sure Where To Start?
Tell us what you're trying to do, and we'll point you to the right conversation.
Last updated: August 2026